IHS Inc. (NYSE: IHS), the leading global source of information and
analytics, today announced that it has established the IHS/Dr. Lawrence
Klein Annual MBA Fellowship Fund at the Wharton School of the University
of Pennsylvania. The fund will provide $25,000 a year to an MBA graduate
student or students with an interest in Finance and/or Analytical
Modeling at the Wharton School.
IHS established this fund to honor the memory and contributions of Dr.
Lawrence Klein, a former Wharton and Penn professor, Nobel laureate and
pioneer in econometric forecasting, who died in October 2013. Dr. Klein
rose to prominence for his work studying the macro economy and
developing statistical models to predict future economic conditions. Dr.
Klein built the first forecasting model of the United States economy in
1946. Using this model, he correctly predicted the post-World War II
boom at a time when most economists were convinced that the U.S. was
headed for a recession.
In 1963, he founded Wharton Econometric Forecasting Associates, which
later joined with DRI, launching the modern economic forecasting
industry more than 50 years ago. That economic forecasting expertise
today is a core capability of IHS, which is the leading source of
information, analytics and expertise in critical areas that shape
today's global landscape, serving businesses and governments in more
than 165 countries.
"IHS is pleased to offer this Fellowship in memory of Dr. Klein and the
significant contributions he made in introducing the important
discipline of macroeconomicforecasting to the world," said Scott Key,
IHS president and chief executive officer. "It is our hope that the
fellowship will open doors for Wharton MBA students who will go on to
meet the global economics challenges of the future and carry on in the
spirit of Dr. Klein."
In 1980, Dr. Klein was awarded the Nobel Prize in economics "for the
creation of econometric models and the application to the analysis of
economic fluctuations and economic policies." Dr. Klein's work
stimulated research on econometric forecasting models that could be used
for the practical analysis of economic policies. The 1980 Nobel press
release read: "Few, if any, research workers in the empirical field of
economic science have had so many successors and such a large impact as
Lawrence Klein." His work inspired models that are still employed by the
Federal Reserve, the International Monetary Fund and the World Bank,
About IHS (www.ihs.com)
IHS (NYSE: IHS) is the leading source of information, insight and
analytics in critical areas that shape today's business landscape.
Businesses and governments in more than 165 countries around the globe
rely on the comprehensive content, expert independent analysis and
flexible delivery methods of IHS to make high-impact decisions and
develop strategies with speed and confidence. IHS has been in business
since 1959 and became a publicly traded company on the New York Stock
Exchange in 2005. Headquartered in Englewood, Colorado, USA, IHS is
committed to sustainable, profitable growth and employs approximately
8,000 people in 31 countries around the world.
IHS is a registered trademark of IHS Inc. All other company and
product names may be trademarks of their respective owners. Copyright ©
2014 IHS Inc. All rights reserved.
About The Wharton School (www.wharton.upenn.edu)
Founded in 1881 as the first collegiate business school, the Wharton
School of the University of Pennsylvania is recognized globally for
intellectual leadership and ongoing innovation across every major
discipline of business education. With a broad global community and one
of the most published business school faculties, Wharton creates
economic and social value around the world. The School has 5,000
undergraduate, MBA, executive MBA, and doctoral students; more than
9,000 participants in executive education programs annually and a
powerful alumni network of 92,000 graduates.
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